RBI to Introduce ₹2000 Banknotes

[Bimat]

Coming soon to your wallet: ₹2,000 notes

G NAGA SRIDHAR/ NS VAGEESH

HYDERABAD/MUMBAI, OCTOBER 21: 

Banknotes of the denomination of ₹2,000 will be in circulation soon.

The Reserve Bank of India has very nearly completed preparations for introducing this new high-value currency, sources said.

The notes have already been printed, and their despatch from the currency printing press in Mysuru has commenced.

The move assumes significance in the wake of a demand from some quarters that notes of ₹1,000 and ₹500 denominations be withdrawn to prevent hoarding of black money.

The highest denomination note printed by the RBI was the ₹10,000 note in 1938 and in 1954. They were demonetised in 1946 and 1978, respectively.

There has been no official word on the introduction of new notes either from the RBI or the government. The government, on the advice of the RBI , decides on various denominations of banknotes to be issued.

Big share

As of March 2016, the value of banknotes in circulation was ₹16,41,500 lakh crore, an increase of 14.9 per cent over the previous year.

In value terms, ₹500 and ₹1,000 notes together accounted for 86.4 per cent of the total value of notes in circulation. .

"During 2015-16, the demand for banknotes and coins remained high notwithstanding the growing shift towards non-cash modes of transactions," the RBI said in its annual report for 2015-16.

According to reports, it costs a little over ₹3 to produce a ₹1,000 note, the lowest in terms printing costs as a proportion of value. Printing notes of smaller denominations is relatively more costly.

Source: The Hindu Business Line

[dheer]

I think false news. The data is also incorrect. The highest denomination note was 50,000

[Bimat]

I too think it's a hoax. But The Hindu is a responsible newspaper and I do believe they won't publish false news without getting concrete information. Let's see.

Aditya

[dheer]

On Facebook some one mentioned that his brother is in Mysore printing press and the news is correct. Let's wait and watch.

[Bimat]

First glimpse of ₹2000 banknote. Image source: Praveen Surana on FB.

While I like the idea of putting image of Mangalyaan (India's Mars mission) on it, the Swacch Bharat (Clean India) campaign logo doesn't quite fit into the theme.

The banknote will be issued next month.

Aditya

[dheer]

Surprisingly no announcement of this in RBI press release

[Bimat]

Here comes the photo of rim...

Seems that all the preparations for the introduction of new denomination are over. I wonder if ATM machines have also been upgraded to give the new banknotes? I don't think so.

Aditya

[dheer]

Given the low publicity around this, I am afraid that this will meet similar fate as of Rs 10 coin.

People will start calling this as Fake 

[Bimat]

Reserve Bank Of India(RBI) Rs 2000 Note Photo Going Viral in Social Media

November 6, 2016

As per Reports, Reserve Bank of India Bank will circulate notes of the denomination of ₹2,000 soon. The notes have already been printed, and their despatch from the currency printing press in Mysuru has commenced. the daily added that neither the Indian government nor the central bank confirmed the development.

Now The pictures of Rs 2000 currency notes are going Viral on Social media site like Twitter and Facebook. We can't Say its original or not, but everyone sharing it with tagline 'Reserve Bank of India Rs 2000 Note First Look'.

The Reserve Bank of India has very nearly completed preparations for introducing this new high-value currency, sources said.There has been no official word on the introduction of new notes either from the RBI or the government. The government, on the advice of the RBI , decides on various denominations of banknotes to be issued.

The incidence of cash transactions and the huge volume of high-value currencies is unique to India, notwithstanding recent efforts to move towards cashless transactions. The two topmost currencies — Rs 500 and Rs 1,000 — accounted for about 86 percent of the new currency notes added in 2014-15, according to RBI statistics.

Currency notes and coins are printed/minted at about eight units owned by the Security Printing and Minting Corporation of India Limited (SPMCIL), a finance ministry company. SMPCIL's two currency printing units — at Dewas in Madhya Pradesh and Nashik in Maharashtra — print about 40 percent of India's currency notes. Coins are minted at Mumbai, Hyderabad, Kolkata and Noida units of SMPCIL.

Currency notes and coins are printed/minted by the government of India on the advice of the RBI, which also estimates the denomination-wise currency needs, and co-ordinates with the government on design and security aspects.

The highest denomination note ever printed by the Reserve Bank of India was the Rs 10,000 note in 1938 and again in 1954. These notes were demonetised in 1946, and again in 1978.

Source: The Sports Hunt

[dheer]

Time looks ripe for a specimen note of 2000 .... Anyone has a good printer...

[dheer]

Apart from fresh design, it looks like first to have "Hindi" numerals for amount. The only other time I recollect was the Rs 2 Gujarati note.

[velind]

So is the news authentic

There is now another funny news floating around that the new Rs.2000/- note will have a "NGC" (Nano GPS Chip) builtin which can transmit its location to the satellite. 
Even if the note is kept 120 meters under the ground!!!   

Hmmmm..... it works out cheaper to use a Rs.2000 note to track your assets instead of spending on costly tracking devices. 

[dheer]

So is the news authentic

There is now another funny news floating around that the new Rs.2000/- note will have a "NGC" (Nano GPS Chip) builtin which can transmit its location to the satellite. 
Even if the note is kept 120 meters under the ground!!!   

Hmmmm..... it works out cheaper to use a Rs.2000 note to track your assets instead of spending on costly tracking devices. 

A Nano GPS Chip  ... aah just because we have the mars orbiter on the note .... well could be true ... else why would we have the mars orbiter ... and swach bharat symbol ... means to keep the country clean of black money 

[Bimat]

Images...And these notes indeed have some extra ordinary features if government is to be believed.

Images from news agency ANI.

Aditya

[Bimat]

The new ₹500 note...

Aditya